Question Period Note: CED's support for economic development in East Montreal

CED's support for economic development in East Montreal

• Canada Economic Development for Quebec Regions is sensitive to the economic reality of East Montreal and is committed to its development.
• Canada Economic Development for Quebec Regions is committed to supporting the community's efforts to develop a common vision and bring about promising structuring projects for East Montreal.
• Since November 2015, Canada Economic Development for Quebec Regions has been involved in 137 projects with assistance totaling over 67 million dollars and generating investments of over 265 million dollars in East Montreal.

Canada Economic Development for Quebec Regions will continue to work with all its partners to support, within the framework of its programming and financial capabilities, projects that will contribute to the economic growth of the eastern part of the metropolis.

• From a socio-economic standpoint, East Montreal faces structural challenges that are holding back its development due to a large inventory of contaminated land, the result of a heavy industrial past in the petrochemical industry, as well as under-investment in transportation infrastructure.
• According to data from the Chambre de commerce de l'est de Montréal (CCEM), East Montreal, defined as the area east of St-Laurent Boulevard, is home to 32,000 businesses and represents almost half of Montreal's surface area.
• The CCEM indicates that nearly a quarter of households would fall into the low-income category, with an unemployment rate of 9.2%, compared to 7.0% for the Montreal MRC and 5.2% for the province.
• In 2018, the Quebec government and the City of Montreal agreed on a Declaration to revitalize East Montreal, one of whose 3 axes was to foster innovative and inclusive economic development. In the wake of this commitment, the CCEM is acting as a federator to mobilize key players and implement a shared development vision for the eastern part of the metropolis.
• On June 16, 2022, CED authorized a non-repayable contribution of $370,000 to the CCEM to enable it to implement an approach aimed at raising the level of economic activity in the eastern part of the island. The assistance was announced on February 27, 2023.
• CCEM is the partner that mobilizes key players and implements a shared development vision. The objectives of its approach are to help dozens of promising projects emerge that will promote the transformation of the territory and ensure the development of a diversified, innovative and inclusive economy. The projects will stem from a development agreement for East Montreal, covering economic, social and environmental aspects, signed by local players who will act as project leaders.
• Supported by various players in civil society, D'est en Est initiative aims to mobilize players to carry out projects and take concrete action to accelerate the revitalization of the east end of the metropolis. It is led by a steering committee that includes the CCEM, PME MTL Est-de-l'Île and Centre-Est, and the Alliance pour l'Est de Montréal.
• The Eastern Summit was held on November 13, 2023. Nearly 800 people from business sector, the community sector and civil society attended the Summit, along with some thirty elected officials from the federal, provincial and municipal governments. Nearly 750 million dollar in commitments were announced by the various partners to revitalize East Montreal.
• Taking advantage of her participation in the Sommet de l'Est, the Honourable Soraya Martinez Ferrada, Deputy of Hochelaga, Minister of Tourism and Minister responsible for CED, announced major investments in East Montreal: financial contributions to eight Montreal organizations and a dedicated 30 million dollar envelope for projects that will have an economic impact in the East End.
• The 2021 federal budget quoted this :

6.5 Local and regional development
* Promoting jobs and growth in all communities
The government remains supportive of new approaches to foster innovation, help businesses grow, and create new jobs, and will explore how it can potentially partner to best support development opportunities for Canadians in all regions, including in East Montreal.

Example of a CED-funded project:
• Owned by people from the Black community, Les Aliments Merjex Inc. produces and markets organic Tempeh, a plant-based protein that is part of a sustainable diet. Repayable assistance of $50,000 authorized in May 2023 enabled this east-end Montreal company to acquire equipment that will enable it to increase its production capacity and promote circularity in its operations. (Announced in November 2023 at the Sommet de l'Est).

The economy of East Montreal has been hard hit by the major industrial restructuring it has undergone in recent decades. Recognizing these challenges and opportunities, the Government of Canada made a commitment in the 2021 federal budget to make the east end of Montreal a priority investment zone.At the Sommet de l'Est held on November 13, 2023, CED pledged to support the community's efforts. CED remains on the lookout for any structuring project that could contribute to raising the level of economic activity in the east end of the island.